Skechers U.S.A. (NYSE:SKX) Stock Price Down 3.8% After Insider Selling

Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) traded down 3.8% on Tuesday after an insider sold shares in the company. The company traded as low as $56.10 and last traded at $56.26. 713,959 shares were traded during trading, a decline of 64% from the average session volume of 1,957,164 shares. The stock had previously closed at $58.49.

Specifically, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now owns 15,000 shares of the company's stock, valued at $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 40,924 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the transaction, the chief executive officer now owns 51,342 shares in the company, valued at approximately $3,119,539.92. The trade was a 44.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, President Michael Greenberg sold 33,656 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $2,044,938.56. Following the completion of the sale, the president now directly owns 137,530 shares of the company's stock, valued at $8,356,322.80. The trade was a 19.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James cut their price objective on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Barclays reduced their target price on shares of Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Evercore ISI upped their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Stifel Nicolaus reduced their price target on Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.25.

Skechers U.S.A. Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The company has a 50-day simple moving average of $68.18 and a two-hundred day simple moving average of $66.42.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Hedge Funds Weigh In On Skechers U.S.A.

Large investors have recently bought and sold shares of the stock. Spire Wealth Management lifted its position in Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after purchasing an additional 155 shares during the period. Calamos Wealth Management LLC raised its position in Skechers U.S.A. by 0.9% in the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker's stock worth $1,228,000 after acquiring an additional 157 shares in the last quarter. Cerity Partners LLC lifted its holdings in Skechers U.S.A. by 1.2% in the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock valued at $947,000 after acquiring an additional 172 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after purchasing an additional 190 shares in the last quarter. Finally, Lindenwold Advisors INC lifted its stake in Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker's stock valued at $446,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.